The US Customs and Border Protection announced late on the 11th that the federal government has agreed to exempt electronic products such as smartphones, computers, and chips from the so - called 'reciprocal tariffs'.
Documents released by the Customs and Border Protection show that these products are excluded from the so - called 'reciprocal tariffs' imposed by the government on trading partners. The documents indicate that the exemption applies to electronic products entering the US after April 5th, and those who have paid the'reciprocal tariffs' can seek a refund.
Reports point out that this measure may relieve the price - increase pressure faced by US consumers to a certain extent and is beneficial to electronics giants including Apple and Samsung Electronics.
Financial analyst Hussein Kubaisi pointed out that this marks a '180 - degree turn' in the US government's tariff policy.
Recently, the US government's extensive and erratic tariff policies have triggered turmoil in the financial markets and drawn criticism from heavy - weight Republicans including former Vice - President Pence.
